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Commerce Minister, Maha CM lay foundation stone of India Jewellery Park

India Jewellery Park

Union Minister of Commerce and Industry & Civil Aviation, Govt. of India, Suresh Prabhu along-with Maharashtra Chief Minister Devendra Fadnavis laid the foundation stone of the India Jewellery Park, Mumbai. They were joined by Subhash Desai, Industries & Mining Minister, Govt. of Maharashtra and Pramod Agrawal, Chairman, GJEPC along-with other dignataries.

India Jewellery Park, Mumbai, is a project of GJEPC. The Council will be entrusted to construct the Park as a special purpose vehicle (SPV). To be built on a 21-acre land situated at Mhape, MIDC Industrial Area in Navi Mumbai, the Park is planned with a total project investment of Rs. 14,467 crores and will generate annual turnover to the tune of Rs. 41,467.50 crores under the current market conditions – a major part of which will be for exports. India Jewellery Park is estimated generate employment of 100,000 (1lakh) workers; enhance manufacturing, investment, export growth and overall economic development of Maharashtra and India.

Chief Minister of Maharashtra, Devendra Fadnavis said, “Mumbai is the largest exporter of gem and Jewellery accounting for US$ 28,320.94 million, (69 per cent of the total Indian exports of gems and jewellery). Maharashtra has the largest diamond bourse in the world Bharat Diamond Bourse in Mumbai and now I am happy that we will have the first-of-its-kind India Jewellery Park, Mumbai. The Jewellery Park will transform the gem and jewellery industry in Maharashtra and India and generate additional 1 lakh jobs in the sector. The Maharashtra Govt. has always supported this labour intensive gem & jewellery sector and will continue to support for the successful establishment of India Jewellery Park, Mumbai.”

Suresh Prabhu said, “Indian jewellery industry accounting for 7 per cent GDP and 14 per cent of merchandise exports out of the country plays an important role in the economy of the country. It has more than 5 million skilled people working in the sector as of now. To meet the ever-increasing demand of our robust domestic market and international market, it is crucial that we facilitate this industry, which comprises majorly MSME units, with proper environment and infrastructure, technology so that they can innovate and cater to the different markets in the world. India Jewellery Park, Mumbai is an integrated industrial park with all facilities under one roof. The Park will have manufacturing units, commercial areas, residences for industrial workers, and commercial support services. By providing our karigars and jewellery traders with state-of-the-art facilities, I am sure we will surely achieve the gem and jewellery exports target of US$ 75 billion from the current US$ 40 billion annually.”

Pramod Kumar Agrawal, Chairman, GJEPC, said, “The gem and jewellery industry is thankful to the Govt. of Maharashtra under the leadership of Hon’ble Chief Minister Shri Devendra Fadnavis and the Hon’ble Union Minister Commerce & Industry and Civil Aviation Shri Suresh Prabhu for all the support extended to set up India Jewellery Park, Mumbai. India Jewellery Park, Mumbai will provide effective support to jewellery manufacturers/traders who are interested to establish, expand or invest in the state of Maharashtra and initiate new business or strengthen their existing business. It is benchmarked with the best-in-class Jewellery Parks created in countries such as China, Turkey, Italy and Thailand. India Jewellery Park, Mumbai will contribute to the economic development of both Maharashtra and India by drawing in investment from across India and abroad.”

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